INDIAN BENCHMARKS fell more than 1% on Friday to their lowest close in nearly threeand-a-half months, dragged down by a 6% slump in Infosys after the software services exporter's January-March earnings fell short of expectations.
Further, Shares of Infosys slipped 6% to Rs2000 after reporting a net profit of Rs3,097 crore for the fourth quarter ended March 2015 (Q4FY15). The profit was 3.5% higher as compared to the previous corresponding quarter, but missed Street estimates.
The INDIAN BENCHMARKS Sensex and CNX Nifty ended 1.07-1.11% lower each. The 30- share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
GLOBAL MARKET CHASE
ASIAN STOCKS rose on Friday, on track for a weekly gain as a fresh record for the NASDAQ helped nudge it toward seven-year highs, while the dollar marched in place after more lacklustre U.S. economic data.
U.S. STOCKS index futures poised for a higher opening at the Wall Street on Friday.
EUROPEAN STOCKS climbed higher on Friday, boosted by encouraging corporate earnings and upbeat economic data, while the volatile Athens market also rose on prospects for a deal over Greece's debt crisis.
WEEK AHEAD
In the coming week, the next batch of Q4 March 2015 corporate results and key global central bank meetings will dictate trend on the bourses next week. Indian stocks may remain volatile as traders roll over positions in the futures & options segment from the near month April 2015 series to May 2015 series. The near month April 2015 F&O contracts expire on Thursday, April 30, 2015.
Next week is a truncated trading week as India's financial markets are closed on Friday, May 01, 2015, on account of Maharashtra Day.
Among major global market events, a two-day meeting of the Federal Open Market Committee (FOMC) to review US monetary policy is scheduled on 28-29 April 2015. Investors are keenly awaiting indication on the timing of the first increase in US interest rates in nearly a decade. Monetary Policy Meeting of Bank of Japan (BOJ) is scheduled on Thursday, 30 April 2015
WEEK AHEAD
In the coming week, the next batch of Q4 March 2015 corporate results and key global central bank meetings will dictate trend on the bourses next week. Indian stocks may remain volatile as traders roll over positions in the futures & options segment from the near month April 2015 series to May 2015 series. The near month April 2015 F&O contracts expire on Thursday, April 30, 2015.
Next week is a truncated trading week as India's financial markets are closed on Friday, May 01, 2015, on account of Maharashtra Day.
Among major global market events, a two-day meeting of the Federal Open Market Committee (FOMC) to review US monetary policy is scheduled on 28-29 April 2015. Investors are keenly awaiting indication on the timing of the first increase in US interest rates in nearly a decade. Monetary Policy Meeting of Bank of Japan (BOJ) is scheduled on Thursday, 30 April 2015
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